At the end of February this year I closed on a proposal to develop and manage a personal training program for a country club here in Central Florida.
The deal is pretty sweet actually...
And, it's the first entrepreneurial deal I've closed all by myself without any outside help from mentors.
The country club is the center of an affluent golf community and is positioned in one of the wealthiest areas of Orlando - an ideal situation for a private fitness-training program.
With over 600 country club members the clientele is built in.
I will pay no rent, no utilities, and my trainers will have free reign over a brand new 2400 sq. ft. fitness facility.
All I give up to the country club is 15% of the net profits...which...could have been lower had I negotiated a bit harder, but that's in hindsight.
Here's the kicker...
If you are a successful entrepreneur it probably doesn't shock you that I'm still waiting on a final contract, but young entrepreneurs might be surprised.
This is a simple, simple deal...but...with attorneys involved things can get sticky.
The contract has gone back and forth between my attorney and the country club's several times too many.
And, it is costing me too much money.
I learned an early lesson in entrepreneurship while traveling internationally, aiding one of my former mentors.
The lesson is that the deal will always take two to three times as long as you would expect it to.
Always, always include this assumption in your planning and cash flow management strategies.
Here’s to reveling with you in entrepreneurial success!
Sincerely,
Adam C. Dudley
Evolving Entrepreneur
P.S. Enrollment is open until the May 7th deadline for my brand new 6-Weeks to Stress Free Startup Teleseminar Course Series. Click here to reserve your enrollment position.
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